Topic: 500Mh/s worth trying to solo mine? (Read 4151 times)
As for now, 1500 Mh/s is not worth to solo mine
Thanks for all the replies guys. I think I will stick to pooling. When I get my second rig up and running, I might have it run solo for a month or two and see what happens before I throw it into a pool.
Cheers!
Cheers!
Are you one of these spammers which are the reason we are stuck in the newbie section?
your link goes to a baffling page about using hydrogen for bit coin.
it says exactly nothing about power per coin.
you nick is the same site, that the post links too.
and there is absolutely nothing at all on your site about bitcoin or using hydrogen for bitcoin or the energy of producing a bitcoin.
why shouldnt I report you as a spammer? What is your goal with these posts? Do you actually offer fuel sells for computer systems?
your link goes to a baffling page about using hydrogen for bit coin.
it says exactly nothing about power per coin.
you nick is the same site, that the post links too.
and there is absolutely nothing at all on your site about bitcoin or using hydrogen for bitcoin or the energy of producing a bitcoin.
why shouldnt I report you as a spammer? What is your goal with these posts? Do you actually offer fuel sells for computer systems?
yeah you can get lucky.. many have, steve gibson of security now got a little lucky finding his block within a week. Dont recall his hash rate but it wasnt something so high that he should have found one in a week.
So yeah it is a crap shoot... I was just looking at it from the other side of the coin. Sure you are just as likely to find one in a week, as someone is to sit there for 2 years and not find one at all.
So yeah it is a crap shoot... I was just looking at it from the other side of the coin. Sure you are just as likely to find one in a week, as someone is to sit there for 2 years and not find one at all.
But even with lower hash rate, mathematically it is possible for some one to get one within a week right? I mean its unlikely, but possible, like winning the power ball. The more I read the more it just seems like a crap shoot.
Quote
https://en.bitcoin.it/wiki/Difficulty
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^16
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^16
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
warning though, that is an average.. you really should look at some of the percentiles.
some people will find a block in 30 days, but some wont find one in 300 days
there was a calc, i cant find right now, that lets you put in all your numbers and shows you the 10percentile and the 90 percentile as well as the average.. it will make you think a bit more about solo, especially if you are pessimistic liek I am
edit here it is
50% find one in within 95 days, but 95% find one within 410 days, that means 5% dont find one for more than 410 days.. grief and that is with 100% uptime.
I also suggest pool mining man 
i suggest pool mining
If you decide to stop after mining 100 days solo with no results, then the variance has a measurable loss compared to a pool.
The same if you decide to stop after mining 50 days solo having mined a block.Quote
Totally your choice tho. If you know you are going to leave the miner running 24/7 for a few years then go for it.
How long you plan to mine shouldn't be a factor in your decision. The factors are precisely the same whether you mine for five minutes or five years. 
Agreed on joining a pool. I'm using Wuked's mineco.in, which is a smaller pool, and the variance isn't that big of an issue. The longest wait was 3 days to solve a block. But it pays out all 50 BTC + transaction fees.
One of the blocks took 11 minutes. So its also entertaining.
If you decide to stop after mining 100 days solo with no results, then the variance has a measurable loss compared to a pool.
Totally your choice tho. If you know you are going to leave the miner running 24/7 for a few years then go for it.
One of the blocks took 11 minutes. So its also entertaining.
If you decide to stop after mining 100 days solo with no results, then the variance has a measurable loss compared to a pool.
Totally your choice tho. If you know you are going to leave the miner running 24/7 for a few years then go for it.
Pool mining reduces your variance. Many pools are no-fee, so in my opinion, pool mining is the way to go for now.
id go for pool mining, try the pool in my sig its quite good!
The recent difficulty increases have really made it unattractive to start mining now. The heydey of mining may have passed in my opinion and whats left is corporate mining.
this is very true , however if many smaller miners do leave then perhaps there will be a decrease in difficulty . i know i would rather have more than 1 coin a day with what is here but it wont happen at this rate and will only be worse later on.
Jen
I wouldn't mine solo unless I had >2Ghash/s and free electricity.
ATM I have 0.8 Ghash/s, pooled mining is the best solution, 2% fees isn't really a lot.
ATM I have 0.8 Ghash/s, pooled mining is the best solution, 2% fees isn't really a lot.
The recent difficulty increases have really made it unattractive to start mining now. The heydey of mining may have passed in my opinion and whats left is corporate mining.
I would not solo mine with 500Mh/s, why not using a pool? So you would get a regular income instead of waiting for the BIG BANG which eventually never happens.
I have been in a pool since I started last week. The payout hasn't been what I expected from what I read before I started, but I think it has to do with the recent jump in difficulty. I was just wondering if it was worth it and I wasn't 100% sure so I thought I'd ask for opinions.
Thanks guys!
https://en.bitcoin.it/wiki/Difficulty
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^16
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^16
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
Thanks Duffman! That link is exactly what I've been looking for! You suck Google! LOL
I would not solo mine with 500Mh/s, why not using a pool? So you would get a regular income instead of waiting for the BIG BANG which eventually never happens.
https://en.bitcoin.it/wiki/Difficulty
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^15
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
amount of hashes needed = 1379223.4296725*2^32=5.92371952432034349056*10^15
hashrate in days = 500*10^(3*2)*60*60*24=4.32*10^13
amount of days needed = 137.12313713704498820740740740741
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